Farmer448

31 Comments

    • ON: Mon Oct 6th 08:49 AM
      Commented on:
      Wall Street Breakfast: Must-Know News
      Citigroup and Wachovia the two ethical banks. So Wachovia made an agreement with Wells Fargo. No Problem, Managements in banks do not have to keep their word. Another reason to doubt the credibility of Wall Street and to realize, Agreements between Mnagements are just so much toilet paper.

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    • ON: Sat Sep 27th 10:08 AM
      Commented on:
      No Wonder the $700 Billion Bailout 'Deal' Failed
      For you older folk I liken Paulson to Bullwinkle the Moose. Bullwinkle would be on stage as a Magician and say "Watch me pull a rabbit out of the Hat". And Bang out would pop a lions head.

      This whole charade is nothing but misdirection with the results being unpredictable, and probably just as bad if not worse then the course we are on now.

      If the credit markets are seizing, which credit markets. Short term financing (30-90 days)? Intermediate term (3-6 years), or long term?

      If you don't have the data as to what is wrong, then how in the world are you to craft an appropriate solution? Washington has a huge "Credibility Gap" with the public and they are not helping matters here. The perception (right or wrong) is throw money at Wall Street.

      In my experience, throwing money at a problem very rarely solves the problem.
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    • ON: Thu Sep 25th 11:35 AM
      Commented on:
      The Hedge Fund of America, LP
      How about Paulson, President Bush, Vice President Cheney, and every member of Congress voting for this put all but 2 million of their investments into this fund. I mean this is necessary and these guys were in charge so it is time for them to personally guarentee the deal.
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    • ON: Thu Sep 25th 10:06 AM
      Commented on:
      It's Time for the Govt. to Spell Out the Risks of Not Rescuing Financial Markets
      Bush last night doubled down and stuck Congress as the dealer in a tough position.

      Credibility is the center of the problem and the whole administration Crew seems to have a distinct lack of credibility. This administration has already added 5 trillion to our debt. It is running a war, and buying votes with the taxpayer the credit card. None of the 5 trillion has been invested in adding or upgrading infastructure to grow our economy. The 700 billion will do nothing to making the role of wall street more effective.

      I hope Congress listens to the voter rather then the donors and wait till after the election before taking up the supposed crisis.
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    • ON: Mon Sep 22nd 09:11 AM
      Commented on:
      $800 Billion for RTC 2.0 - Then What?
      The last government estimate I remember was Iraq at a tops of 50 billion. So 700 billion later in actual cash out where are we.

      I agree with the above, the financial markets have to reach bedrock. If the market cannot price the product, why do people think the treasury will do a better job?

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    • ON: Fri Sep 19th 09:34 AM
      Commented on:
      Are Short Sellers Really to Blame?
      Short Sellers certainly are not helping the crisis, much less following the law. I know the SEC is the blind leading the blind but naked shorting is illegal.
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    • ON: Fri Sep 19th 09:32 AM
      Commented on:
      Making Sense of the Brokerage Bust
      The only problem with this is the value of money is based on the public confidence. So are we going back to 1800s where each bank had their own currency.
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    • ON: Fri Sep 19th 09:30 AM
      Commented on:
      A Resolution Trust Corp. 'Solution'?
      So how is the Resolution Trust option going to solve CDO's and all the other derivatives cross colaterizing mortgages and bonds? THe underlying asset is deflating.

      Why not just change the mark to market to pure cash accounting.
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    • ON: Fri Sep 19th 09:13 AM
      Commented on:
      Short Selling: The Free Speech of Wall Street
      Chuck and Wpdragon, I suppose the 400 point swings are not due to naked shorting by hedge funds.

      So quit complaining about the SEC actually following the rules. And as for free speech, ask the poor protestors at the Democratic and Republican conventions if they got free speech or a police baton. (just to make a point). We have restrictions on rights just like their are restictions on trading.

      So ask yourselfs these questions?
      So how many naked shorts are there?
      Can the person who shorted the stock cover if the trade goes wrong?
      How much credit has been provided by shorting and what is the risk to the market?
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    • ON: Thu Sep 18th 12:50 PM
      Commented on:
      The Gains from Preventing a Great Depression
      Thank-you academics, but please I have enough economic theory put into practice by Phil Gramm. Money is all about trust, a tough concept to the current Wall Streeters who only understand statistics and spreadsheets. I suggest they look around and really see all of the prople involved in their lives that they have just given the shaft.

      Down here in Texas we have deregulated Electicity Markets to the highest prices in the nation. Another free market promise that failed to deliver.

      Give me practical people who understand the trade offs between free markets, quasi regulated monopoly, and government controlled monopoly. Each market has its place in delivering goods and services to the public.
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    • ON: Wed Sep 17th 09:31 AM
      Commented on:
      The Nationalization of AIG
      I find it funny that the great free marketers, the republicans, always screw up the economy. Remember the 1970's with tricky dicks wage and price controls. Then in the 1980s we had the resolution trust where the government let the S&Ls self-regulate. Now in the 21st century, the heads I win tails the taxpayer looses game is being played by the republicans with the unregulated financial instruments.

      It is time for the voter to take government back from the corporation.
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    • ON: Fri Sep 12th 13:23 PM
      Commented on:
      Are Speculators Really That Bad for Commodities Markets?
      Is there a role for speculators in the commodities markets?

      Yes, their purpose is to provide liquidity. This allows prices to reflect longer term supply and demand imbalances and for lots of suppliers to adjust their production to the longer term pricing or for consumers to look for alternative materials or adjust their pricing of product.

      Is there a role for regulation?

      Yes, the problem is how to keep the market in a reasonable balance between suppliers and consumers of commodities. The supply side is “Cornering the Market” like the Hunts did with silver. In this case the enough of the supply of silver was controlled by the Hunts so they could set futures prices. The second is due to “herd mentality” of speculators. Here due to, loose/fast money, speculators start chasing a commodity price irregardless of the underlying demand of the price. The regulator, like an umpire, needs to be in place to make sure neither side is favored in the futures market and that the supplier or consumer does not have an overwhelming advantage.

      Now supposedly the CFTC is supposed to be the umpire of the game. The problem is they are in the spectators box saying regulation is the responsibility of the “Great and all Powerful Invisible Hand”.

      Yes, massive excesses will correct. But when this has happened in history the economic dislocation is incredible. Have the regulators learned nothing from history? Regulation is supposed to dampen excesses before the “Invisible Hand” corrects catastrophically.

      Personally give me practical leadership over ideological leadership any day. I have enough drama in my life without our leaders dumping more on me.
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    • ON: Tue Sep 9th 16:45 PM
      Commented on:
      The Fannie/Freddie Bailout: Consequences to the U.S. Taxpayer
      Hey whats a few hundred billion added to the 10 trillion of national debt.

      Laissez-faire policies screwed us in the 1920's, in the savings and loan debacle of 1985 and now for the first economic screwup of th 22d century. Regulation is setting the rules that economic players must adhere to. Checks and balances in our society keep it from going off track. Lately both Governmental and Economic Checks and Balances have been eliminated by the "True Believers" leaving the practical practitioners twisting in the wind.

      So how do you like the new Casino called Wall Street. You cannot trust what anyone says anymore.

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    • ON: Thu Sep 4th 17:48 PM
      Commented on:
      The Problem with Hedge Funds
      Wall Street has to figure out its purpose. Is it going to be a giant casino or is it going to be in the capital formation business.

      Same thing for commodities, is it supposed to minimize risk or be a crap shoot.

      So I will start listening when Wall Street Leaders Step Up and do whats right.
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    • ON: Wed Sep 3rd 08:50 AM
      Commented on:
      On Being Rich
      So here is my two cents. It really isn't about being rich or poor. It is about how are we going to pay for government. The last eight years the government has doubled the national debt from just under 5 trillion to 10 trillion. A good piece of this was lowering the taxes on upper incomes while not changing the spending in congress. So the money was spent the money folks. And the it is now time to pay the piper.

      So when you are looking at who you are going to elect this fall, look to who wants to tackle the real problem of tacking a limited resource of Tax revenues and spending it on programs that work by investing in Americas future.

      The last eight years have been all about ideaology. It is time to move to the practical. No one, party, has all the answers. What is the path for our country in the 22 century? It is time the voters, both the haves and the have nots be represented in Washington.

      So what does being American mean to you?
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